Gold futures finished Tuesday’s COMEX session higher by $24.80, or 1.5%, at $1,655.60 per ounce amid a broad-based rally in precious metals. Silver outperformed the yellow metal, as it climbed $0.61, or 2.1%, to $30.14 per ounce.
While gold and silver futures posted solid gains, the platinum group metals (PGMS) – platinum and palladium – fared even better. Platinum futures jumped $39.90, or 2.7%, to $1,528.70 per ounce and palladium surged $20.45, or 3.2%, to $655.50 per ounce.
The broad-based gains in precious metals was fueled in part by weakness in the U.S. dollar, which slipped 0.5% against a basket of the world’s most-traded fiat currencies.
Cyclical commodities headed north as well, with copper futures rising $0.09, or 2.5%, to $3.73 per pound and crude oil advancing $1.68, or 1.7%, to $100.37 per barrel.
Fortuna Achieves Significant Milestone with NYSE Listing
- Fortuna was one of the top performing silver stocks in 2011 - as it climbed 16.9%, compared to a 22.0% decline for the Global X Silver Miners ETF
- The Company’s San Jose mine in Mexico declared commercial operations in September and Fortuna expects to report sustained low cost quarterly silver production growth as it expands San Jose from 1,000 tonnes per day (tpd) to the design capacity of 1,500 tpd
- Fortuna is on pace to generate sustained quarterly production growth to the planned annual rate of 4.9 million ounces of silver and 26,000 ounces of gold by Q4 2013
